User Tag List

Results 1 to 2 of 2
  1. #1
    \(^.^)/ Jennifer's Avatar
    Join Date
    Oct 2005
    Post Thanks / Like
    Follow Jennifer On Twitter Add Jennifer on Facebook
    66 Post(s)
    0 Thread(s)

    Default Hermes Profits Decline in Half

    This was published over @WWD:

    PARIS - Hermès International blamed poor returns on financial investments and currency fluctuations for a 7 percent dip in first-half net profits to 125.4 million euros, or $167.4 million.

    The French leather goods and fashion firm reiterated its target of steady sales for the full year at constant exchange rates and a "slight contraction" in current operating income.

    Operating income fell 2 percent to 199.8 million euros, or $266.8 million, as sales in the half rose 7.6 percent to 874.9 million euros, or $1.17 billion. Dollar figures are converted from euros at average exchange rates.

    At constant exchange, sales in the half eased 0.4 percent, reflecting declines in orders for watches, perfume and tableware and ongoing sluggishness in Japan.

    The operating margin in the first half of 2009 stood at 22.8 percent versus 25.1 percent a year ago.

    For complete coverage, see Monday's WWD.

  2. #2
    A little eccentric warhols__muse's Avatar
    Join Date
    Jul 2008
    Norman, Oklahoma.
    Post Thanks / Like
    0 Post(s)
    0 Thread(s)

    Default Re: Hermes Profits Decline in Half

    That's a lot of loss, especially if you consider their customer base. It kind of surprises me.
    If love is the answer, what is the question?

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts